Among those looking to take advantage was Felicite Gibson, 43, a stay-at-home mother from Bethlehem, who was perusing shoes and boots at Nine West on the upper level. The store was offering 50 percent off a second pair.
"I think the Sands Casino and shopping go hand-in-hand," Gibson said. "Having the retail space offers visitors of the Sands something more to do than gamble, because I'm not really a gambler."
That's the idea, said Sands president Robert DeSalvio. He said several more stores, including Guess and Coach, would open over the next four months. There are to be 31 stores that will lease space in the mall by early 2012.
"Outlet shopping is always expanding in this economy," he said, as he greeted the first shoppers and gave reporters a walking tour of the mall. "We're happy to present this amenity to the Lehigh Valley."
The outlet mall follows the Memorial Day weekend opening of the casino's 300-room hotel. It's all part of the Sands' progression into a fully integrated destination, a signature of parent company Las Vegas Sands Corp., DeSalvio said. The company owns casino resorts in Las Vegas, Macau, and Singapore, all with hotels, malls, and celebrity-chef restaurants.
Las Vegas Sands Corp. reported solid third-quarter results last week. Net revenue increased 26.2 percent year-over-year to $2.41 billion, while consolidated property EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 43.2 percent to $924.1 million. At the end of the third quarter, the company held $3.95 billion in unrestricted cash on hand and reported total debt of $9.74 billion.
